14th Apr 2008 07:05
Henderson Morley PLC14 April 2008 14 April 2008 HENDERSON MORLEY PLC (AIM) Business: Drug Discovery Company HENDERSON MORLEY SIGNS SPONSORED DEVELOPMENT AND OPTION AGREEMENT WITH SCHERING-PLOUGH The Board of Henderson Morley plc, the AIM listed drug discovery company,announces that it has signed a sponsored development and option agreement withSchering-Plough Limited ("Schering") regarding the Grant of a Licence Agreementfor the intellectual property of its Koi Carp herpes vaccine. HIGHLIGHTS • Option granted for Schering to take an exclusive worldwide licence to commercially exploit vaccine candidates produced by Henderson Morley; • Schering will pay undisclosed payments towards the development of the vaccine over a 15 month period; • If the Licence is granted it will be for an minimum term of 10 years; • Royalty payments will be based on Net Sales Revenue received by Schering; and • The Licence will include the right for Schering to sub-licence to third parties. The sponsored development and option agreement is a precursor to the Grant of aLicence Agreement for the intellectual property rights of Henderson Morley's KoiCarp herpes vaccine. The Licence will be worldwide and Schering has agreed topay towards the development costs of the vaccine while the option agreement isin place. Schering-Plough Limited trades as Schering-Plough Animal Health. It is asubsidiary of NYSE listed Schering-Plough, which is a global science-basedhealth care company with leading prescription, consumer and animal healthproducts. Executive Chairman Andrew Knight said: "We are delighted to have signed thisagreement with Schering. This will help us to further develop our vaccine and welook forward to working closely with a leader in the animal health arena." ---ENDS--- Enquiries: HENDERSON MORLEY PLC Tel: 0121 442 4600Andrew Knight, Chairman BISHOPSGATE COMMUNICATIONS LTD Tel: 020 7562 3350Maxine BarnesNick Rome BREWIN DOLPHIN INVESTMENT BANKING Tel: 0113 241 0126Neil Baldwin HYBRIDAN LLP Tel: 0203 159 5085Stephen Austin/Claire Noyce Further information on Henderson Morley plc can be accessed through theCompany's website at www.henderson-morley.com Notes for editors Henderson Morley Henderson Morley was founded in 1996 with the objective of developing its anti-viral application (Ionic Contra Viral Therapy (ICVT). ICVT is the Lead Platformand has been developed in-house and Henderson Morley wholly owns the patent IPR. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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